Guideline Value for Thoiba Garden

Thoiba Garden guideline value

The current guideline value of Thoiba Garden, located in Somangalam_B village, is Rs 250 per sq.ft. This value is effective from the 2024 revision and falls under the Residential Class II Type - I land classification. The property is registered under the Sriperumpudur SRO.

How the guideline value of Thoiba Garden has changed

In the 2017 revision, the guideline value for Thoiba Garden was Rs 167 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 250 per sq.ft. The current 2024 revision also maintains the guideline value at Rs 250 per sq.ft, indicating no percentage change from 2023 to 2024.

From 2017 to 2023, there was a significant increase of 50%, bringing the value up to Rs 250 per sq.ft. Overall, from 2017 to 2024, the guideline value has increased by 50% as well, maintaining a consistent value since 2023.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft, with a median value of Rs 250 per sq.ft. Thoiba Garden's 2024 guideline value aligns with this median.

• Thoiba Garden I: Rs 250 per sq.ft (2024)
• Thoiba Garden - II: Rs 250 per sq.ft (2024)
• Thiruvallur Road: Rs 200 per sq.ft (2024)
• Thillai Nagar: Rs 200 per sq.ft (2024)
• Thendral Nagar: Rs 500 per sq.ft (2024)
• Thangam Nagar - III Extension: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Thoiba Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, making the total cost for these fees Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can utilize the stamp duty and registration fee calculator for more precise calculations based on your specific property transaction.

Which Sub Registrar Office covers Thoiba Garden?

The Sub Registrar Office covering Thoiba Garden is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find more information about your local SRO, visit find your SRO.

How the guideline value is used when you buy or sell in Somangalam_B

The guideline value plays a crucial role in property transactions in Somangalam_B. It serves as the basis for calculating stamp duty and registration fees, which are necessary for legal documentation during the sale or purchase of property.

When a property is registered, the guideline value is referenced to determine the applicable fees. Buyers and sellers must be aware that the duty is charged on the higher of the guideline value or the sale price, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Thoiba Garden?

The current guideline value of Thoiba Garden is Rs 250 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft from 2023 to 2024. It increased by 50% from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

What is the land classification for Thoiba Garden?

Thoiba Garden falls under the Residential Class II Type - I land classification, which is relevant for determining the guideline value.

Where is the Sub Registrar Office for Thoiba Garden located?

The Sub Registrar Office for Thoiba Garden is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Thoiba Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 250 per sq.ft would incur a stamp duty of Rs 17,500.